GDP in Denmark
Denmark - GDP (billions of U.S. Dollars)
Second estimate confirms growth moderated in Q1 2019
The economy grew a downwardly revised 0.2% in seasonally-adjusted quarterly terms in the first quarter of 2019 (previously reported: +0.3% quarter-on-quarter), according to the latest national accounts data which were released by Statistics Denmark on 29 May. This was a marked deceleration from Q4’s upwardly revised 0.9% growth (previously reported: +0.8% qoqsa), which was primarily driven by a weaker external sector. In annual terms, GDP growth fell to 2.2% in Q1, down from the 2.6% registered in the quarter prior.
The domestic economy posted a solid performance. Household consumption growth was stable in the first quarter (Q1: +0.4% qoqsa; Q4: +0.4% qoqsa), driven by a surge in vehicle purchases. Moreover, gross fixed capital formation rebounded in Q1, logging 1.8% growth (Q4: -1.0% qoqsa). Public consumption, however, contracted 0.2% (Q4: +0.5%).
The external sector abated as growth of exports of goods and services slowed to 0.5% in Q1, down from the 1.1% logged in the previous quarter. Moreover, imports of goods and services grew 3.7% in the first quarter, contrasting the 0.9% decline recorded in the fourth quarter of last year. Overall, the external sector nicked 1.4 percentage points off the overall GDP headline figure.
Despite the soft Q1 outturn, the economy is expected to gather momentum over 2019 as a whole compared to 2018. A healthy labor market and solid wage gains should keep consumer spending upbeat, while exports are expected to strengthen after 2018’s lackluster performance. Nevertheless, risks remain skewed to the downside. Particularly, a slowdown in the Eurozone and uncertainty over Brexit could weigh on external demand and dampen business confidence, which would hurt growth in the export-oriented sectors as well as investment prospects more generally.
Denmark GDP Forecast
The Central Bank expects the economy to grow 1.7% in 2019 and 1.7% again in 2020. Met the why particular Consensus Forecast panelists see growth reaching 1.7% in 2019, which is unchanged from the previous month’s forecast, and 1.6% in 2020.
Denmark - GDP (USD bn) Data
|GDP (USD bn)||336||364||303||309||329|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||-0.21||-1.54 %||Jun 13|
|Exchange Rate||6.62||-0.57 %||Jun 13|
|Stock Market||1,020||-0.39 %||Jun 13|
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June 11, 2019
According to Statistics Denmark, consumer prices decreased 0.1% in May over the month prior, down from the 0.3% rise registered in April.
May 29, 2019
Business confidence among firms in the industrial sector inched up to minus 2 points in May from minus 3 points in April, according to a survey conducted by Statistics Denmark, owing to a slight recovery in news orders and lower stocks.
May 29, 2019
The economy grew a downwardly revised 0.2% in seasonally-adjusted quarterly terms in the first quarter of 2019 (previously reported: +0.3% quarter-on-quarter), according to the latest national accounts data which were released by Statistics Denmark on 29 May.
May 21, 2019
Consumer confidence jumped in May, with the consumer confidence index released by Statistics Denmark increasing to 5.9 points from 3.7 points in April.
May 15, 2019
GDP grew 0.3% in seasonally-adjusted quarter-on-quarter terms in Q1 2019, down from the 0.8% increase registered in the fourth quarter last year, according to a flash estimate released on 15 May.